GeneDx (NASDAQ:WGS) Sees Unusually-High Trading Volume - Still a Buy?

Shares of GeneDx Holdings Corp. (NASDAQ:WGS - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,016,508 shares changed hands during mid-day trading, an increase of 6% from the previous session's volume of 962,387 shares.The stock last traded at $74.65 and had previously closed at $85.01.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WGS shares. The Goldman Sachs Group boosted their price objective on shares of GeneDx from $54.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. TD Cowen increased their price objective on shares of GeneDx from $75.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Wells Fargo & Company boosted their target price on GeneDx from $34.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Craig Hallum increased their price target on GeneDx from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.67.

GeneDx Trading Down 15.3 %

The company has a quick ratio of 2.27, a current ratio of 2.40 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -23.15 and a beta of 2.02. The business's 50-day simple moving average is $78.15 and its two-hundred day simple moving average is $54.30.

GeneDx (NASDAQ:WGS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.25. GeneDx had a negative net margin of 31.25% and a negative return on equity of 13.35%. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $64.98 million. During the same quarter last year, the firm posted ($0.82) earnings per share. The business's revenue for the quarter was up 44.3% compared to the same quarter last year. Equities analysts forecast that GeneDx Holdings Corp. will post -0.24 earnings per share for the current year.

Insider Activity

In other GeneDx news, CEO Katherine Stueland sold 2,154 shares of the firm's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $66.60, for a total value of $143,456.40. Following the completion of the sale, the chief executive officer now owns 105,426 shares of the company's stock, valued at approximately $7,021,371.60. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Feeley sold 35,506 shares of the company's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $93.82, for a total transaction of $3,331,172.92. Following the transaction, the chief financial officer now owns 2,472 shares in the company, valued at $231,923.04. The trade was a 93.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,229,965 shares of company stock valued at $93,006,163. Insiders own 27.30% of the company's stock.

Hedge Funds Weigh In On GeneDx

A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of GeneDx in the 2nd quarter worth $991,000. Rhumbline Advisers increased its position in GeneDx by 8,096.4% during the 2nd quarter. Rhumbline Advisers now owns 18,360 shares of the company's stock worth $480,000 after purchasing an additional 18,136 shares in the last quarter. Acadian Asset Management LLC purchased a new position in GeneDx in the second quarter valued at approximately $34,000. American Century Companies Inc. lifted its position in GeneDx by 36.1% during the second quarter. American Century Companies Inc. now owns 17,258 shares of the company's stock valued at $451,000 after buying an additional 4,573 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in GeneDx during the second quarter valued at approximately $2,362,000. Institutional investors and hedge funds own 61.72% of the company's stock.

About GeneDx

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.